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  1. ITV Report

Twins facing US fraud charges

A pair of twins from North Tyneside are facing fraud charges in America for allegedly scamming over a million dollars from investors.

Alexander and Thomas Hunter were just 16-years-old when they allegedly devised the bogus online scheme in 2007.

They're accused of producing a phoney stocks-picking web enterprise that's said to have swindled 75,000 US investors out of 1.2 million dollars (£745,000).

The brothers, now 21, live in Well Ridge Close, Whitley Bay, where neighbours were hearing for the first time today about the allegations.

Neighbour Christian Skjaerstad can't believe the teenagers he played with in the street years ago, could have been behind such a crooked scam.

"Classic 90s kids. Always into consoles and computers. I didn't hear about the plan until today - before I had just heard how much they made in the end.

"They were normal kids really this is a bit of a surprise how they have gone and done it."

– Christian Skjaerstad, Neighbour

From the bedroom of their home, the former Whitley Bay High pupils are accused of inventing a fictitious robot that they claimed could identify stocks poised to rocket in value.

The Securities and Exchange Commission in America have filed civil action seeking a return of the profits and penalties made by the twins.